2023-10-12 16:02:22
The Court of Justice of the Andean Community (CAN) has issued a ruling confirming that Colombia complies with the rules of free trade in rice in the CAN, ending a 13-year conflict and eliminating the possibility that member countries of the CAN, which includes Bolivia, Ecuador and Peru, impose sanctions on Colombia.
This Court ruling revokes an instrument that had allowed CAN member countries to “punish” Colombia with increasingly stronger sanctions due to restrictions on rice imports. Now, after demonstrating that there are no restrictions on rice imports from CAN partner countries, Colombia is freed from possible sanctions.
Colombia’s exports to the CAN between January and August 2023 totaled US$2,080.2 million, representing an increase of 0.9% compared to the same period of the previous year.
Prior to this ruling, Ecuador and Peru had imposed tariffs on imports of Colombian products in response to alleged restrictions by Colombia. These tariffs and the number of products affected had increased over time. However, thanks to the joint work of the Ministries of Commerce, Industry and Tourism and Agriculture and Rural Development of Colombia with the governments of Ecuador and Peru, some of the restrictions on the products that Colombia exports to these countries were lifted. .
This ruling by the Andean Court marks a milestone in Colombia’s trade relations with the CAN countries and opens new opportunities for regional trade in rice and other sectors, indicates the statement from the Ministry of Industry, Commerce and Tourism of the neighboring country.
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